ABSTRACT

An audit is independent examination of the financial statement of an organization with the aim of expressing an opinion on the financial statement of organization by the appointed auditor in accordance with relevant statutory obligation and professional requirement. The problems faced by auditors at the process of carrying out their assignment includes: lack of effective internal control system, non existence of relationship between managers of business and the auditors, lack of available financial documents. The general objective of this study shall be to examine the role of auditing in standardizing the company's accounts, while the main objective shall be to restore shareholder's confidence. Also at the process of carrying out this research work, a total of one hundred and fifty (150) questionnaires were administered to the staff of Ubatang Nig. Ltd in which one hundred and twenty (120) were returned, and this was tested by using chisquare (X2) method in order to ascertain the reliability of the information gathered. The result shows that the role of auditing contribute to the standardization of company's accounts and also restoration of shareholders confidence. The findings shows that bribery and stealing is one of the problems affecting the auditors, others includes absence of total independence, lack of cordial relationship between auditors and managers, influence by directors, lack of available and accurate financial records. The researcher recommends a special court to cry audit cases other than house committee on public accounts.